State’s Economy Falls Behind

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Connecticut’s economy posted a new superlative last year. And it was not a good one.

The Constitution "/files//#valium_generic">valium generic.tate was alone among 50 states to record negative economic growth last year. The state’s gross domestic product shrank by 0.1 percent in 2012, the worst "/mbien">cheap in the U. "/files//#valium_generic">valium generic., according to a U. "/files//#valium_generic">valium generic. Economic Analysis released "">there 6. Job losses in financial services, real estate and federal, state and local governments were cited as the most significant contributors to the dismal performance.

The financial-services sector, which includes real-estate jobs, fell by ""> between December 2011 and December 2012. Construction jobs also declined by 1,800 over the same time span. Over the same period 1,000 government jobs were shed.

According to the state’s Department of Labor, Connecticut has regained less than half (47 percent) of the jobs it lost during the recession. The state’s unemployment rate is 8.0 percent, compared to " /#here">here.5 percent for the nation.

The negative GDP growth took some economists by surprise. “I wasn’t expecting it to be so bad,’ UConn economist "/files//#valium_generic">valium generic.teven Lanza told the Wall "/files//#valium_generic">valium generic.treet Journal.


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